8 Things You Didn't Know About the Billionaire Creator of Spanx

Emily Co for Savvy Sugar

March 19, 2012

Here's another interesting story from our friends at Savvy Sugar, who know the value of a good female entrepreneur!

Spanx is a word that most women are familiar with. It's a type of shapewear that helps to smooth away lumps and bumps and also leaves no trace of a panty line. The creator of this product, Sara Blakely, has been inducted to this year's Forbes billionaires list, which was released earlier this month.

Spanx, an international undergarment company, is worth an estimated $1 billion.

She learned how to write her own patent from reading a Barnes and Noble book and she saved $3,000 in legal costs.

She worked at Disney World for three months and spent eight-hour days buckling customers into a ride.

She's the youngest self-made female billionaire in the world.

She has never spent money on advertising.

She owns 100 percent of the company.

She went from just having $5,000 in savings when she was 29 to owning a billion-dollar company at the age of 41 today.

She has her eccentric moments, and her husband describes her as "50 percent Lucille Ball, 50 percent Einstein." Some of her goofiest moments include wearing a boot on one foot and a Christian Louboutin heel on the other in Bloomingdale's, and wearing stretchable candy necklaces and bracelets (bought from a nearby candy store) to the Screen Actors Guild Awards because she left her jewelry at the hotel.

She witnessed a car run over her best friend when she was only 16, and facing mortality at such a young age has driven her. "I think that when you witness death at age 16, there's a sense of urgency about life," Blakely says. "The thought of my mortality—I think about it a lot. I find it motivating. It can be any time that your number's up."

Security

Follow Us

LearnVest Planning Services is a registered investment adviser and subsidiary of LearnVest, Inc. that provides financial plans for its clients. Information shown is for illustrative purposes only and is not intended as investment advice. Please consult a financial adviser for advice specific to your financial situation. LearnVest Planning Services and any third-parties listed, discussed, identified or otherwise appearing herein are separate and unaffiliated and are not responsible for each other’s products, services or policies. LearnVest, Inc. is wholly owned by NM Planning, LLC, a subsidiary of The Northwestern Mutual Life Insurance Company.